Co-op Bank: Mutual or Bust?

Since the appalling news of a Co-op Bank takeover by US hedge “vulture” funds (Aurelius Capital and Silver Point Capital) a growing body of Co-op members and bank customers are rallying to restore co-operative control and underpin the bank’s commitment to ethical investment.  Background The future of the Co-op Bank has been in doubt since announcing losses arising from the acquisition of the Britannia Building Society. Once the government made clear it would not bail out the Co-op Bank its credit rating shattered and the vulture funds bought up Co-op debt – interest-paying bonds at a lot less than the…